Best SEO practice: To 301 Forward Or to Create a WP site?

Hey guys,

I want your opinion on this.

I got some expired domain that has some pretty strong high authority backlinks. The site belonged to a singer who abandoned his project few months ago but the do-follow backlinks are still there.

Problem is that that the site is unrelated to my main brand site. I want the backlink juice to pass on my main brand site (jewelry) but what is the best way to do it, without risking for a penalty?

Should I just 301 forward the domain?
Should I just make a site similar to the one that used to run before (via wayback machine) and add only the link the my brand site?
Or should I do something else that I am currently unaware of?

Big thanks to all of you!

If it's unrelated, then do not redirect anything at all. Backlinks and even anchors get transferred to your money site and with this approach, you might as well screw it up.

Repurpose the site, find a common niche ground between the PBN and your money site and link out to it. Simple.